Pozen, which is getting closer to bring its oral migraine treatment drug MT 100 to market, says it lost a net total of $5.2 million in the third quarter.
The company reports $55.7 in cash and cash equivalents. It also reported no revenue for the quarter and a net loss of $18.9 million for the year. That compares to $13.7 million for last year.
Pozen (Nasdaq:POZN) has tried to cut costs this year, including the dropping of development for one drug called MT 500. However, it says it is stepping up efforts — and expenses — for two other drugs as well as MT 100.
